Algorand (ALGO) Drops 6.32% as Traders Track Two Conditional Price Levels

Algorand (ALGO) traded at $0.11146 at 9:03 a.m. ET (13:03 UTC) Oct. 17, down 6.32%, placing the token between a possible support retest and a separate breakout range in two conditional recovery scenarios. ALGO is the Algorand network’s native token, used for transaction fees and applications. One technical scenario places possible support at $0.105 and lists upside levels of $0.145, $0.240, $0.335 and $0.615 if a bounce is confirmed. A separate scenario requires a confirmed move above $0.13 to $0.132, with $0.146 as an initial level and a broader resistance zone near $0.19.

Source: TokenPost